Breaking News
Fat lady yet to sing for the Fishos
Chelsea White
22 April 2008
MANLY music institution Fishos has been saved from financial collapse after creditors backed an investor's plan for a complete club revamp yesterday.
Investment group McMillan Printing Unit Custodian's $3 million rescue package was approved at a creditors meeting.
The package will see all of the 100-year-old club's debts paid off, including the $1.8 million owed to ANZ, as well as a temporary refurbishment to encourage increased membership before a complete redevelopment.
The redevelopment, dubbed "The Gateway to Manly", will see the club become a more family friendly venue with live music and the addition of a residential development of 45 units.
The redevelopment is still a few years away, but its architects hope to submit a development application in the next few months.
The decision marks the end of administration, with administrator Rob Brennan estimating it would be only a matter of days before the club's directors were reinstated and his job wound up.
As far as young band Irksome Bliss are concerned, the decision is a great thing for live music on the northern beaches.
The band will be the first to play at the club without its closure hanging over their heads when they take the stage this Saturday.
"It's great, we're all happy that it's still there because we really wanted it to stay," lead singer Luke Hannaford said.
The announcement ensures the club will carry on a long tradition of supporting local and international acts.
Over the past 20 years the Fishos has provided a musical platform for bands such as INXS, Wolfmother, Eskimo Joe, Alex Lloyd, The Whitlams and Jimmy Barnes.
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